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प्रश्न
Explain any three characteristics of capital.
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उत्तर
The characteristics of capital are as follows:
- Capital is the Result of Past Labour - Capital is a produced factor of production. When human efforts are combined with natural resources with the objective of developing producer goods like tools, machinery, etc., then the emergence of capital takes place.
- Capital is Result of Savings - Capital is man-made and is born out of savings done by man. Its supply is increased or diminished by the efforts of man. Thus, capital is a manmade factor of production.
- Capital not an Indispensable Factor - Capital is not an indispensable factor of production. Production can be possible even without capital, whereas, land and labour are the original and indispensable factors of production.
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संबंधित प्रश्न
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| Factor of Production | Reward of factor of production | ||
| (i) | Land | (A) | Wage |
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| (iv) | Entrepreneur | (D) | Interest |
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